Knowing Your Score

knowscoreThere is a lot of buzz about knowing your credit score.  That buzz can be misleading because there is no one credit score for each person.

There are many different credit scoring models that co-exist in the marketplace including generic scores, proprietary lender scores, industry specific scores and educational scores. A number of the scores available for purchase are considered educational and do not coincide with the exact scores that a creditor will obtain when you apply for credit.

Typically you have to pay a nominal fee to get a score generated from your report.  Federal law entitles us all to one free report each year from the three major bureaus, Equifax, Experian, and TransUnion, but it doesn’t provide for a free credit score.

Buying all your different scores would be expensive, not to mention the time involved in tracking down all the different models and their uses.  So, which score should you know? And, do you really need to know all those numbers?

Learn more about credit scores in our new project, Credit Scores: You Do the Math
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  Finding a Good Contractor

We've all heard the horror stories: a kitchen with cabinets removed and a gaping hole in the wall and the contractor skips town, a family room looked beautiful until it started to rain. How can you protect against disaster when you undertake your home beautification project? Planning and a good contract can help. The best way to find a contractor is through friends and neighbors. Industry groups recommend you get a written estimate from at least three contractors, visit job sites and inspect the quality of work. You know checking references is important, but so is getting specific materials and quality of products outlined in the contract, as well as a timeline for completion of phases of the project.
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